(a) Reserve Bank of India Pension Regulations 1990
(a) Reserve Bank of India Pension Regulations 1990
(a) Reserve Bank of India Pension Regulations 1990
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27. Invalid pension<br />
27. Invalid pension may be granted if an employee retires from the service on account <strong>of</strong> any bodily or<br />
mental infirmity which permanently incapacitates him for the service.<br />
(2) An employee applying for an invalid pension shall submit a medical certificate<br />
<strong>of</strong> incapacity from the <strong>Bank</strong>’s Medical Officer.<br />
(3) Where the <strong>Bank</strong>’s Medical Officer has declared the employee fit for further service <strong>of</strong> less laborious<br />
character than that which he had been doing, he shall, provided he is willing to be so employed, be<br />
employed on lower post and if there be no means <strong>of</strong> employing him even on a lower post, he may be<br />
admitted to invalid pension.<br />
27. Compassionate allowance<br />
(1) An employee <strong>of</strong> the <strong>Bank</strong> who is dismissed or terminated from service shall forfeit his pension.<br />
Provided that the authority competent to dismiss or terminate from service may, if the case is deserving <strong>of</strong><br />
special consideration, sanction a compassionate allowance not exceeding two-third <strong>of</strong> pension which would<br />
have been otherwise admissible to him.<br />
(2) A compassionate allowance sanctioned under proviso to sub-regulation (1) shall not be less than the<br />
amount <strong>of</strong> 1 [Rs.720/-] per mensem in the case <strong>of</strong> a full-time employee, and proportionate amount there<strong>of</strong> in<br />
relation to rate <strong>of</strong> wages applicable in case <strong>of</strong> a part-time employee.<br />
28. Rate <strong>of</strong> pension<br />
The rate <strong>of</strong> basic pension will be fifty per cent <strong>of</strong> the average emoluments subject to a minimum <strong>of</strong><br />
2 [Rs.720/-] per mensem in the case <strong>of</strong> a full-time employee, and proportionate amount there<strong>of</strong> in relation to<br />
rate <strong>of</strong> wages applicable in the case <strong>of</strong> part-time employee. Service <strong>of</strong> thirty-three years will qualify for the<br />
full pension. In the case <strong>of</strong> an employee who has put in less than 33 years <strong>of</strong> service, pension will be<br />
payable on proportionate basis for the number <strong>of</strong> years <strong>of</strong> qualifying service.<br />
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1 Substituted for ‘[Premature retirement pension shall be granted to an employee who is retired or<br />
voluntarily retired in advance <strong>of</strong> the age <strong>of</strong> superannuation in accordance with the Staff <strong>Regulations</strong>.<br />
Provided that pension shall not be payable during leave preparatory to retirement.]’ vide A.C. No. 5 dated<br />
07-02-1992.
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